Filing Flows › Global Partners LP (GLP) › Q2 2026 › vs Q1 2026
Global Partners LP (GLP) Q2 2026 vs Q1 2026 (quarter over quarter)
Global Partners LP's revenue rose $1.5B (+28%) from $5.3B in Q1 2026 to $6.8B in Q2 2026. The biggest changes: Wholesale segment +$1.0B (+26%); GDSO +$448M (+41%); Commercial segment +$2.8M (+0.8%). Gross margin 4.8% against 6.2% (-1.4 pts).
Global Partners LP, Q2 2026: revenue $6.8B (+47% year over year), operating margin 1.6%, net earnings $71.0M, operating cash flow $309M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 4.8% | 6.2% | -1.4 pts |
| Operating margin | 1.6% | 2.0% | -0.4 pts |
| Net margin | 1.0% | 1.3% | -0.3 pts |
| Free cash flow margin | 4.0% | -2.6% | +6.6 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Wholesale segment | $4.9B | $3.8B | $1.0B | +26% |
| GDSO | $1.6B | $1.1B | $448M | +41% |
| Commercial segment | $370M | $367M | $2.8M | +0.8% |
| Revenue | $6.8B | $5.3B | $1.5B | +28% |
| Gross profit | $329M | $332M | −$3.2M | -1% |
| Cost of revenue | $6.5B | $5.0B | $1.5B | +30% |
| Operating profit | $107M | $106M | $1.6M | +2% |
| Operating expenses | $222M | $226M | −$4.8M | -2% |
| Pre-tax earnings | $76.3M | $71.0M | $5.3M | +7% |
| Other expense, net | $31.1M | $34.8M | −$3.7M | -11% |
| SG&A | $83.0M | $99.3M | −$16.3M | -16% |
| Other operating costs | $139M | $127M | $11.5M | +9% |
| Net earnings | $71.0M | $70.1M | $849K | +1% |
| Income tax | $5.3M | $839K | $4.4M | +529% |
| Share-based compensation | $5.8M | $7.4M | −$1.6M | -22% |
| Working capital & other | $233M | −$182M | $415M | — |
| Operating cash flow | $309M | −$105M | $414M | — |
| Free cash flow (OCF − capex) | $274M | −$137M | $411M | — |
| Capital expenditures | $35.0M | $31.9M | $3.1M | +10% |
Questions
How much did Global Partners LP's revenue grow quarter over quarter in Q2 2026?
Global Partners LP's revenue rose $1.5B (+28%) from $5.3B in Q1 2026 to $6.8B in Q2 2026.
What drove Global Partners LP's revenue change in Q2 2026?
Wholesale segment +$1.0B (+26%); GDSO +$448M (+41%); Commercial segment +$2.8M (+0.8%).